Cinnober chosen for major design study

Cinnober has signed an agreement with a major international exchange group to conduct a comprehensive design study for utilizing Cinnober’s technology for real-time clearing for listed derivatives as well as a complete CSD system (Central Security Depository). The tender process has included a profound evaluation of the available global technology providers and Cinnober has now been uniquely selected to commence work while conducting a full design study that should be completed in December.

Cinnober has unique experience of providing clearing and risk management solutions to tier one exchanges and clearinghouses, such as Brazilian BM&FBOVESPA, the British LME Clear, DGCX in Dubai, and the South African JSE. The latest customer was announced earlier this year when Japan Exchange Group chose Cinnober to deliver real-time clearing for its derivatives market and an additional cross-asset risk monitoring solution for the entire national market for equities, bonds, futures, options, CDS and IRS.

“We’re the inventor of real-time clearing and for the past five years we’ve been the completely dominant supplier to the global community of clearinghouses,” says Veronica Augustsson, CEO of Cinnober. “We will also be strengthening our position and broadening our customer base to include CSD:s. This is a natural step for us as we broaden our offerings along the value chain. CSD technology is as outdated as clearing technology and we are looking forward to revolutionizing this arena too.”

Cinnober is a world-leading independent supplier of financial technology to marketplaces and clearinghouses. Customers include major exchanges with extreme demands on reliability and performance, such as the Australian Securities Exchange, BM&FBOVESPA, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.

About Cinnober and commercial definitions
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance. Cinnober’s customers include the Australian Securities Exchange, BM&FBOVESPA, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand. For additional information, please visit www.cinnober.com   

Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is Avanza. To help the market to assess the value of the deals won by Cinnober, the following definitions have been established. A major deal is one for which the order value over a period of five years is estimated to exceed SEK 100 million. A smaller deal is one for which the order value over a period of five years is estimated to be less than SEK 30 million. A medium-sized deal is one for which the order value over a period of five years is estimated to be in between that of a smaller deal and a major one. The initial design study is considered a smaller deal from this perspective. Potential future agreements on the delivery of clearing and CSD systems to above mentioned exchange group will both be considered major deals for Cinnober.

This information is information that Cinnober Financial Technology AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on 18 July 2016. 

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